                                 CODE OF VIRGINIA

INSURANCE (§ 13.1-703)

A corporation may purchase and maintain insurance on behalf of an individual who
is or was a director or officer of the corporation, or who, while a director or
officer of the corporation, is or was serving at the request of the corporation
as a director, officer, partner, trustee, employee, or agent of another entity,
against liability asserted against or incurred by the individual in that
capacity or arising from the individual&#8217;s status as a director or officer,
regardless of whether the corporation would have power to indemnify or advance
expenses to the individual against the same liability under this article.

HISTORY: Code 1950, § 13.1-3.1; 1968, c. 570; 1975, c. 500; 1979, c. 99; 1985,
c. 522; 2005, c. 765; 2019, c. 734.